Fly Leasing Limited (“FLY” or the “Company”) today announced that it is commencing an offer, subject to market conditions, of an additional $100.0 million aggregate principal amount of its 7.000% Senior Notes due 2024 (the "Additional Notes") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The Additional Notes will be fungible with the Company’s existing approximately $290.4 million aggregate principal amount of 7.000% Senior Notes due 2024 (the “Existing Notes”) issued under the indenture, dated as of August 2, 2021, governing the Existing Notes, and will have the same terms as the Existing Notes (other than the initial offering price and the issue date).

The Company intends to use the net proceeds from the offering for general corporate purposes.

The Additional Notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.